HARVARD 933305555 SIMULATION SUPPLEMENT Working Capital Simulation: Managing Growth Problem Set Questions Problem 1 Estimate the net working capital and cash conversion cycle in 2012 for McDonald's Corporation based on the data provided in the following chart: Income Statement for the Period 12 Months: 12 Months: Ending December 31, 2011 December 31, 2012 Cost of Goods Sold (16,3194) (16,750.?) Gross Prot 10,686.6 10,816.3 Selling: General and Administrative (2,393.7) (2,455.2) Expenses Operating Income 8,292.9 8,361.1 Net Interest Expenses [453.8] {488.6} Other Net Operating Income 173.1 206.5 (Expenses) EBT, Including Unusual Items 8,012.2 8,079.0 Income Tax Expense 2,509.1 2,614.2 Net Income to Company 5,503.1 5,464.8 Balance Sheet as of December 31, 2011 December 31, 2012 ASSETS Total Cash and ST Investments 2,345.1 2,340.3 Accounts Receivable 1,334.7 1,375.3